This week we have major news reports. We have to analyze how will USD will react to inflation data and how this will affect interest rates and the overall economy.
On the technical side, we have seen NO buyers on the 90s range.
We are in a long term bear-flag -2.96% , even though I wanted DXY -0.42% to touch the down-trend and reject it, to complete the flag this week.
We didn't even tested it, so that is what the market is giving us, and that is what we will work with. As of no, I will wait for the major reports coming this week and re-analyze after. For now, I am in a neutral position,=.
I will have a selling bias if we hold below the 90s range and below the trend we are approaching and then, if we hold below the 85s range.
Note that we are in a big box right now, and we have to wait for DXY -0.42% to show us a new direction. Don't rush anything.
Follow the scenarios shown in the chart.
On the technical side, we have seen NO buyers on the 90s range.
We are in a long term bear-flag -2.96% , even though I wanted DXY -0.42% to touch the down-trend and reject it, to complete the flag this week.
We didn't even tested it, so that is what the market is giving us, and that is what we will work with. As of no, I will wait for the major reports coming this week and re-analyze after. For now, I am in a neutral position,=.
I will have a selling bias if we hold below the 90s range and below the trend we are approaching and then, if we hold below the 85s range.
Note that we are in a big box right now, and we have to wait for DXY -0.42% to show us a new direction. Don't rush anything.
Follow the scenarios shown in the chart.